Asset Managers – Page 281
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SWIP appoints southern Europe head
EUROPE – Scottish Widows Investment Partnership (SWIP) has appointed Corrado Amari, 54, as head of southern Europe.
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BGI launches 16 sterling and euro LDI funds
EUROPE- Barclays Global Investors (BGI) has launched 16 new pooled liability driven investment (LDI) funds aimed at UK and European pension funds that want to outperform their liabilities.
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UK schemes ‘shouldn’t count on tax loophole’
UK - Standard Life says pension funds and their advisers shouldn’t count on a grey area in current tax rules that let some members claim tax privileges – because the authorities are set to end it.
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Watson consultant van Zoelen joins PIMCO
EUROPE – Bond specialist PIMCO, part of Allianz, says it has hired Watson Wyatt investment consultant Henk-Jan van Zoelen.
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DeAM Europe chief sees institutional boost
GERMANY - Axel Benkner, chief executive of Deutsche Asset Management in Europe, says the firm’s institutional assets under management should rise by at least one-quarter within five years.
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MLIM’s Doll sees ‘halo effect’ of Philips deal
NETHERLANDS – Bob Doll, president and chief investment officer of Merrill Lynch Investment Managers, has spoken of the “halo effect” its deal to manage €12bn of Philips pension assets could have for the firm.
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Towers Perrin buys German consulting firm Rauser
GERMANY - International consulting firm Towers Perrin has agreed to buy German occupational pensions advisor Rauser AG for an undisclosed sum.
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Watson's Thornton in share sale (Update)
GLOBAL – Paul Thornton, European senior partner at consulting firm Watson Wyatt, has sold $2.63m (€2.2m) worth of shares in the company (Updates with clarification).
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SRI up 128% at French institutions
FRANCE – French institutional investors’ allocation to socially responsible investments (SRI), has grown 128% in the last 12 months according to a study by Novethic, a subsidiary by Caisse des dépôts et consignations (CDC).
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Northern Trust set to open Amsterdam office
NETHERLANDS – Northern Trust says it is aiming to open an office in Amsterdam within the first quarter of 2006.
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US custodians unveil second-quarter figures
US – Three large US securities services specialists, Northern Trust, Mellon Financial and the Bank of New York, have released second quarter assets under custody figures.
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Supervisory convergence key for CEIOPS – Trichet
EUROPE – The success of the EU committee of pensions supervisors, CEIOPS, will be judged on how it achieves “supervisory convergence” says European Central Bank president Jean-Claude Trichet.
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State Street earnings flat as expenses rise
US – State Street Corp. has reported flat second-quarter earnings as expenses have risen by 8% to more than $1bn (€835m).
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Denmark’s PKA grows to more than €13bn
DENMARK – Pensionskassernes Administration, the third largest pension provider in Denmark, says its first-half return of 12.1% has taken its market value to more than DKK100bn (€13.3bn).
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European fund body EFAMA looking for new head
EUROPE – The European Fund and Asset Management Association is looking to hire a new director general to take over from Steffen Matthias when he retires.
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EU says fund proposals to aid pension crisis
EUROPE – The European Commission says new investment fund proposals released today will help tackle the continent’s pensions crisis.
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Irish reserve fund commits €3bn to private equity
IRELAND – The €13.5bn Irish National Pensions Reserve Fund says it plans to commit around €3bn to private equity in the next five years or so.
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JP Morgan unveils performance measurement system
GLOBAL – JP Morgan has launched a new performance measurement system for clients such as pension funds, asset managers and insurers.
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Germany implements pension fund directive
GERMANY - Germany has implemented the EU directive on occupational pension funds more than two months before the September 23 deadline following a parliamentary vote on Friday.
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Achmea under scrutiny at Dutch metals fund PME
NETHERLANDS – Common pension management firm PVF Achmea is under scrutiny at €16bn Dutch metals industry pension scheme PME, Bedrijfstakpensioenfonds Metalektro, which is looking at costs and service standards.
